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AUD/USD

  • #62,141
  • Aug 9, 2013 9:41pm Aug 9, 2013 9:41pm
On weekly chart is bottom reversal..
There is a winner and a loser, nothing in between.
  • #62,142
  • Aug 9, 2013 11:12pm Aug 9, 2013 11:12pm
Quoting Pip Anon
{quote} I think it is a bit over done for a bit. I would think a continuation if it steadily gained, but these massive gains typically don't hold well. 400+ pips this week. We are at daily resistance, and look at the last time the RSI I got into this level..... right before that MASSIVE decline. AUD Business data next week mon/tue most likely lackluster. {image}
I am looking for a short term sell order at 0.9205.Setting tight stop loss at 0.9230 and profit target 0.9150.
Lats see what happened in next week.
  • #62,143
  • Aug 10, 2013 9:59am Aug 10, 2013 9:59am
aud usd


http://pcm-fx.com/englishforum/forum.php


http://pcmbrokers.org/pcmfileupload/...7614675211.gif


  • #62,144
  • Aug 10, 2013 10:56am Aug 10, 2013 10:56am
I was hoping for a greater pullback at the 61.8 but price continued moving in the gold fork.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-08-10_115453.png Size: 26 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #62,145
  • Aug 10, 2013 1:07pm Aug 10, 2013 1:07pm
gang, this market may be getting ready for a short term pullback so the countertrend traders get ready but a potential inverse head and shoulders pattern is setting up on the 4 hour chart which is setting up for higher prices in the near future...the 4 hour target is around 0.9750 approximately

good luck to all
  • #62,146
  • Aug 10, 2013 4:18pm Aug 10, 2013 4:18pm
Quoting ninner
gang, this market may be getting ready for a short term pullback so the countertrend traders get ready but a potential inverse head and shoulders pattern is setting up on the 4 hour chart which is setting up for higher prices in the near future...the 4 hour target is around 0.9750 approximately good luck to all
Certainly may be true. But I think its reasonable to expect a leg back down (at some point) to test 90 level and see what happens.
  • #62,147
  • Aug 10, 2013 10:01pm Aug 10, 2013 10:01pm
Quoting edindzeko
{quote} Certainly may be true. But I think its reasonable to expect a leg back down (at some point) to test 90 level and see what happens.
Possibly we can pullback to the 91 level, if that holds well, I'm looking for 93.
Trade what you see, not what you think!
  • #62,148
  • Aug 11, 2013 3:40am Aug 11, 2013 3:40am
AUS_Sep : I think Aus_sep little Go up and then fall 9123 was point to Hit and if break then up side moment
and AUS_SEp broke that level and next upside target is 93xx But i dont think AUS will hit 93xx if break 92xx
on Monday thn 93xx possible otherwise back and Fall In Love best of luck all trader Hpapy day
  • #62,149
  • Aug 11, 2013 6:04am Aug 11, 2013 6:04am
http://finance.yahoo.com/news/risk-off-sentiment-leverage-massive-222800542.html
Logics do not apply in FOREX
  • #62,150
  • Aug 11, 2013 6:12am Aug 11, 2013 6:12am
here is mainstream media view :

"The fall in the Australian dollar is likely here to stay, with most economists predicting a new average somewhere between US80c-US85c, and there are local stocks that stand to benefit. Companies with exposure to America and earn their income in US dollars are the most obvious candidates to take advantage of a weaker Aussie dollar."

Read more: http://www.smh.com.au/business/heres...#ixzz2beqvWbKX

I think that this is BS and AUD will not range in 80-85 c.

This week action looks like reversal to me and sharp AUD gains are possible.
  • #62,151
  • Aug 11, 2013 6:30am Aug 11, 2013 6:30am
Quoting seaman2
here is mainstream media view : "The fall in the Australian dollar is likely here to stay, with most economists predicting a new average somewhere between US80c-US85c, and there are local stocks that stand to benefit. Companies with exposure to America and earn their income in US dollars are the most obvious candidates to take advantage of a weaker Aussie dollar." Read more: http://www.smh.com.au/business/heres...#ixzz2beqvWbKX I think that this is BS and AUD will not range in 80-85 c. This...
Well with the rounded bottom on the H1, H4 and fresh cross to the upside on the D1 the AUD/USD certainly looks to have some upside coming. But then again, these are thin markets in the dog days of summer in this part of the world. The boys are still takin' coffee breaks and heading for the Hamptons to meet up with the wife and kids for the weekend (which seems to be starting on Thursday noontime, lately). Ya just never know until the charts answer the question of
WHAT IN THE WIDE WORLD OF SPORTS JUST HAPPENED?!?
  • #62,152
  • Aug 11, 2013 8:48am Aug 11, 2013 8:48am
Quoting buytosell
On weekly chart is bottom reversal..
http://i1116.photobucket.com/albums/...ps00458b3e.jpg


Might not. Last week Aussie failed to close above critical resistance level .92, means not a good sign for bulls.There is simply too much resistance above.
The true fact is market doesn't care, risk mgt is important.
  • #62,153
  • Aug 11, 2013 8:51am Aug 11, 2013 8:51am
Quoting ninner
gang, this market may be getting ready for a short term pullback so the countertrend traders get ready but a potential inverse head and shoulders pattern is setting up on the 4 hour chart which is setting up for higher prices in the near future...the 4 hour target is around 0.9750 approximately good luck to all
What potential inverted head and shoulder? The neckline was already broken since .9 level, that is why it was bullish the whole of last week.
The true fact is market doesn't care, risk mgt is important.
  • #62,154
  • Aug 11, 2013 9:19am Aug 11, 2013 9:19am
Quoting Ssm
{quote} What potential inverted head and shoulder? The neckline was already broken since .9 level, that is why it was bullish the whole of last week.
Looks like a double top to me, if we're talking patterns
When the facts change I change my mind, what do you do sir
  • #62,155
  • Aug 11, 2013 9:31am Aug 11, 2013 9:31am
Quoting Pip Anon
{quote} Looks like a double top to me, if we're talking patterns
Which means?
  • #62,156
  • Aug 11, 2013 9:33am Aug 11, 2013 9:33am
Quoting Mozzy
{quote} Which means?
http://lmgtfy.com/?q=double+top+pattern
  • #62,157
  • Aug 11, 2013 9:38am Aug 11, 2013 9:38am
for the 1st time in 2 months, I think Ill stop from buying this pair...9200 was my target, now it might retest the bottom, creating double bottom, and after recover again all the way up...I will wait and buy it again near 9000...have a nice trades
  • #62,158
  • Aug 11, 2013 9:49am Aug 11, 2013 9:49am
Quoting JeremyWS
{quote} http://lmgtfy.com/?q=double+top+pattern
Thanks
  • #62,159
  • Aug 11, 2013 10:24am Aug 11, 2013 10:24am
Quoting xandi
for the 1st time in 2 months, I think Ill stop from buying this pair...9200 was my target, now it might retest the bottom, creating double bottom, and after recover again all the way up...I will wait and buy it again near 9000...have a nice trades
Agree. Now its in no man's land because .92 was not broken last week.
By the way, nice trades you got there last week.
The true fact is market doesn't care, risk mgt is important.
  • #62,160
  • Aug 11, 2013 4:21pm Aug 11, 2013 4:21pm
Gap down and still moving down, short looking attractive here at the open.

Looking to see how it plays out in the next hour or so.
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myozaw